Microverse, an ed-tech firm, has raised new funds to help practicing college students all over the world learn coding through its online institution. It charges no upfront fees and instead relies on a revenue-share agreement that kicks in after pupils get work.
- Proclamation: The startup proclaimed it has closed a $12.5 million Series A led by Northzone with additional participation from General Catalyst, All Iron Ventures and a host of angel investors. This latest round brings the startup’s total funding to under $16 million.
- Vision: The company’s vision has seen added pandemic-era traction as larger tech companies have embraced remote work that spans geographic boundaries and time zones. Microverse has now brought English-speaking students from over 188 countries through its program.
- Worthwhile employment: The company says its has above a 95% employment rate for its students within six months of graduation so far, pushing past one of the bigger issues that income-share-agreement-based schools have had stateside — getting graduates employed.
- New launch: “We have data now that the day we launch a partner program — which we haven’t done yet but we will eventually — it opens up the market by 5x,” said CEO Ariel Camus. “To get 10,000 students per year in a world where 90% of the world’s population doesn’t have access to higher education — it’s not going to be that hard, to be honest, I’m not too worried.”
- Big plans for the future: The startup has big plans for the future, including working more closely with tech companies to ensure that students have easier access to job placement once they graduate. Camus says the startup is receiving thousands of applications per month, of which only a fraction are accepted in an effort to ensure that the small startup isn’t over committing itself early on. The startup estimates it will usher in 1,000 students through its program this year.